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Message: News - Century Mining Reduces Debt
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March 11, 2010 Century Mining Reduces Debt |
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| Century Mining Corporation ("Century" or the "Company") (TSX-V: CMM) announced today that it has reached a settlement with MRI of Switzerland on its outstanding $1.0 million debt facility by the issuance of 3,571,429 common shares of the Company at a deemed issue price of $0.28 and 250,000 warrants exercisable at $0.40 for a period of 18 months. The issuance of the shares and warrants is subject to compliance with applicable securities laws and approval by the TSX Venture Exchange. The shares will be subject to a hold period of four months. In addition, all matters regarding the claim and counterclaim have been resolved. About Century Mining Corporation Century Mining Corporation is a Canadian junior gold producer and holds strategic land positions in Canada, United States and Peru. The Company's strategy is to grow to an intermediate gold producer through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities. On behalf of Century Mining Corporation, "Margaret M. Kent" President & CEO For further investor information, please contact: Peter A. Ball, Director of Investor Relations E-mail: pball@centurymining.com Phone: (360) 332-4653 Toll Free: (877) 284-6535 Website: www.centurymining.com Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Caution Concerning Forward-Looking Information This press release contains forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. We use words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate" and similar terminology to identify forward-looking statements and forward-looking information. Such statements and information are based on assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions and its expectations of future developments as well as other factors which it believes to be reasonable and relevant. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. Risks and uncertainties that may cause actual results to vary include but are not limited to the speculative nature of mineral exploration and development, including the uncertainty of reserve and resource estimates; operational and technical difficulties; the availability to the Company of suitable financing alternatives; fluctuations in gold and other commodity prices; changes to and compliance with applicable laws and regulations, including environmental laws and obtaining requisite permits; political, economic and other risks arising from our South American activities; fluctuations in foreign exchange rates; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis included in this Annual Report, in our Annual Information Form and in other filings made by us with the Securities and Exchange Commission and with Canadian securities regulatory authorities and available at www.sedar.com. While the Company believes that the expectations expressed by such forward-looking statements and forward-looking information and the assumptions, estimates, opinions and analysis underlying such expectations are reasonable, there can be no assurance that they will prove to be correct. In evaluating forward-looking statements and information, readers should carefully consider the various factors which could cause actual results or events to differ materially from those expressed or implied in the forward-looking statements and forward-looking information. |
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